Filecoin price soars following mainnet launch; reaches $900m market cap

Filecoin's mainnet launch has long been highly anticipated, with a plethora of retail and venture capital pouring into the cryptocurrency's 2017 initial coin offering, which raised over $205 million.

The mainnet launch of the decentralized data and information storage blockchain has been plagued by multiple delays, but finally started coming to fruition in late-September when they launched their "Pre-liftoff phase."

The promise of this blockchain - coupled with the massive number of investors from 2017 - has made this mainnet launch incredibly hyped, causing the FIL token's price to rally after trading went live across multiple major platforms earlier today.

Filecoin's mainnet goes live 3 years after ICO. Filecoin's 2017 made big promises and garnered massive funding, and there's finally something to show for it.

Earlier today, the Filecoin Mainnet went live, providing the web with an "Open, decentralized, verifiable storage layer."

In a blog post announcing the launch, Filecoin explains that they are currently observing the mainnet's performance and have not yet encountered any issues.

FIL token price rockets higher following a flurry of exchange listings.

The FIL token has benefited greatly from Filecoin's mainnet launch, as it garnered multiple major listings on platforms like FTX, Gemini, and Bitfinex.

At the time of writing, FIL is trading up just under 100 percent percent at its current price of $58. This marks a notable surge from its listing price of roughly $30.00.

Filecoin's FIL already has a market cap of $845 million based on its circulating supply, with a fully diluted market cap of over $115 billion.